Australian petrol and diesel averages reach highest levels since April

National fuel averages rise

Australian petrol and diesel prices reached their highest national average levels since April, The Age reported on Monday. Citing new Australian Institute of Petroleum figures, it said regular unleaded averaged $2.37 a litre at service stations over the past week, up 10 cents from the previous week. Diesel averaged $2.87 a litre after rising nearly 14 cents. The figures are national weekly averages, not prices at every pump. ¹

Both averages remained below the earlier highs reported by The Age during the conflict: $2.53 a litre for unleaded and $3.19 for diesel. Diesel’s latest weekly rise was steeper than petrol’s, although its national average was still 32 cents a litre below that earlier peak. ¹

NSW prices and wholesale costs

The NRMA’s 22 September update provides a separate NSW snapshot. It put Sydney’s average regular unleaded price at 237.8 cents a litre on the preceding Monday afternoon, up 22.3 cents in a week. Diesel averaged 286.1 cents, up 24.1 cents. At those prices, the NRMA calculated that a 60-litre fill cost about $143 for unleaded or $172 for diesel. ³

The NRMA recorded weekly increases in Sydney wholesale prices of 14.8 cents a litre for regular unleaded and 23.3 cents for diesel. It forecast on 22 September that Sydney’s average regular unleaded price would reach at least the low-to-mid 240-cent range over the following week as higher wholesale costs flowed through. That was a forecast, not a measured price for 28 September. ³

For the week ending 20 September, the NRMA put regional NSW averages at 238.8 cents a litre for regular unleaded, up 21 cents, and 286.2 cents for diesel, up 23.6 cents. Its NSW readings cover different areas and periods from the later national averages reported by The Age. ³¹

The NRMA said that, by its 22 September update, regular unleaded had risen 85.6 cents a litre since 30 June and diesel 109.8 cents. For a 60-litre fill, it calculated that those changes added more than $51 for petrol and almost $66 for diesel over that period. ³

Oil prices and the Strait of Hormuz

The Age reported that Brent crude fell below US$100 a barrel last week amid hopes of a diplomatic breakthrough, before climbing to about US$106 on Monday. It linked the reversal to reports of disagreement over conditions for reopening the Strait of Hormuz, a major oil and gas shipping route. Commonwealth Bank energy and mining commodities research head Vivek Dhar described US–Iran talks as being at an impasse. The Age also reported concern about attacks on Saudi Arabian energy infrastructure. ¹

SBS reported a declared US–Iran peace agreement in June, while cautioning that Australian fuel-price relief depended on durable stability and a return to normal trade. Its account explained that globally priced oil and delays through wholesale and retail supply chains complicate any immediate effect at the bowser. The Age’s September report describes renewed uncertainty over a truce and the strait, rather than a settled return to normal shipping. ⁴¹

A further risk for diesel

The Age reported that US President Donald Trump was considering a 90-day ban on diesel exports. Analysts it cited calculated that, if introduced, a ban could affect roughly 20 per cent of global seaborne diesel trade and push Australia’s regional diesel benchmark significantly higher. That is a conditional assessment, not a measured change in Australian pump prices. ¹

The Age also reported that attacks had damaged Russian oil-refining capacity, adding to disruptions affecting global diesel supply. In its September update, the NRMA pointed to unusually low inventories and conflicts affecting supply when discussing diesel’s exposure. Neither account establishes how far or for how long Australian retail diesel prices might rise. ¹³

Excise relief and remote travel

The increases follow the end of temporary federal fuel-excise relief. The Age reported that the full rate was reinstated in August, and the NRMA dated the end of the relief to 3 August. In its 22 September update, the NRMA said the federal government had ruled out another immediate reduction, instead pointing to other cost-of-living measures and efforts to secure fuel supplies. ¹³

Individual purchases can differ substantially from national averages, particularly on remote trips. Nine.com.au reported that Kate Irwin and her husband Gordon spent $5260.85 on diesel during a nearly 10,000-kilometre caravan trip from Brisbane to central Australia. Their most expensive reported stop was Oodnadatta, South Australia, where diesel cost $3.24 a litre. That was a price at one stop, not an Australian average. ²